Could Live Nation Be The Next Record Label?
Concert giant Live Nation has just completed its purchase of music merchandiser Trunk and made some key executive appointments. The move now positions the publicly traded company as a gatekeeper in
the two arenas of the music industry that provide artists with the most revenue – touring and merchandise sales.
Live Nation also just announced that jam rockers Government Mule, known for allowing free taping at their shows, has surpassed 1 million paid live downloads via Live Nation controlled Music Today. Music Today also offers fan ticketing and other services to enhance the artist/fan relationship.
In the shifting music business paradigm, could Live Nation become the new record label financing artist development and coordinating marketing and revenue streams? At a recent Pollstar Concert Industry Consortium panel Live Nation’s forward thinking CEO Michael Rapino hinted that such ideas are being explored.